Many of them believe that, despite its recent battering in world markets, gold will retain its luster and regain lost ground—reflecting a common view that gold offers a safe haven in uncertain times.

“There are still so many financial problems around the world and so people will still flock to gold,” said Ron Krauth, 73, a long-time Barrick investor.

Others see gold benefiting from the inflationary effects of quantitative easing programs around the world, which have seen central banks buy bonds and in doing so increase the supply of money.

“There is still too much money being printed,” said Geoff Richards, 72, who with only 15 years under his belt is a relative newcomer to the company’s shareholder roster.

Many also voiced support for Mr. Munk despite speculation the 85-year-old may be close to leaving the company he took public in 1983.

“I have faith in gold, I have faith in Peter Munk,” said John Stonehill, 84, who invested soon after the company listed. He said Mr. Munk is “exceptionally bright” and taking the company on the right track.

Brent Smerdan, 58, is fine with Mr. Munk, as long as he allows co-chairman John Thornton to take on more of the work.

Last year Barrick sparked speculation about its founder’s future when it appointed Mr. Thornton to that role, and more recently appeared to say that Mr. Thornton, a former investment banker, would be taking over from him. Some institutional investors and analysts said Mr. Munk should step down or at least set an exit date.

Mr. Munk, however, told the Wall Street Journal this week that he’s in no rush to retire. “Do you think this company that I built would be better off without my counsel? I don’t,” he said in an email exchange. At the annual meeting, where he was greeted warmly by shareholders, he made no mention of his plans.

Not all shareholders want to see him stay on. “He has had his day,” said longtime Barrick investor Alvero Tritor, 78, who said management has made some poor decisions in recent years, especially with some of the company’s acquisitions. Barrick had to take a hefty charge in its fourth-quarter 2012 results on one of those purchases – a big copper mine in Zambia.

Another shareholder, Leslie Dobos, 76, was of the same mind. “He’s too old,” Mr. Dobos said.

About Canada Real Time

Canada Real Time provides insight and analysis into what’s making news in Canada, a country punching above its weight on the world stage thanks to its vast resources and strong banking sector. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, we take a look at developments in fields ranging from business to politics to culture. You can contact the editors at canadaeditors@dowjones.com